Michael and Susan Dell pump $6.25B into ‘Trump accounts’ for children
Michael and Susan Dell announced today they are making a whopping “$6.25 billion commitment” to children.
Dell Technologies is famous for marketing computers straight to consumers and acquiring Hopkinton’s EMC Corporation in 2016 for $67 billion — and now the couple is digging deep into their pockets for kids.
“If there’s one investment that never stops growing, it’s investing in children. They are our future,” the couple stated on their philanthropic website. They are both backing that up by “seeding” 25 million accounts with $250 each, totalling $6.25 billion.
It’s all part of the “Trump accounts” initiative to give $1,000 to babies born between Jan. 1, 2025, and Dec. 31, 2028.
The gift from the Dells, who have long been linked to Boston after the EMC buyout, will extend that pool of money to children up to 10 years old, with eligibility requiring household income to be below $150,000, according to multiple reports today.
The Dells write today they are boosting the “Trump accounts” and are urging others to join them.
“Beginning next year, the U.S. Treasury will contribute $1,000 to the Invest America account of every baby born on or after January 1, 2025,” the couple adds. “This automatic $1,000 deposit by the federal government gives every American newborn a transformative head start. These investment accounts are simple, secure, and structured to grow in value through market returns over time. At age 18, these young Americans can have a financial foundation for continued education, job training, home ownership, or future savings. It’s a simple yet very powerful idea.”
The couple adds that what inspired them “was the chance to expand this opportunity to even more children.” That’s where the extra 25 million accounts come into play.
“This is not just about what one couple or one foundation or one company can do. It is about what becomes possible when families, employers, philanthropists, and communities all join together to create something transformative,” the Dells add. “This is what Invest America was designed to do.”
The couple is expected to ecpand on the investment today in the White House with President Donald Trump.
This is a developing story …
